Howland Capital Management LLC Acquires 32,936 Shares of Texas Pacific Land Corporation $TPL

Howland Capital Management LLC increased its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 200.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,404 shares of the financial services provider’s stock after purchasing an additional 32,936 shares during the quarter. Howland Capital Management LLC owned 0.07% of Texas Pacific Land worth $14,190,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB grew its position in Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 69 shares in the last quarter. IFP Advisors Inc grew its position in shares of Texas Pacific Land by 185.3% in the 4th quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 63 shares during the period. Quarry LP bought a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $29,000. Eagle Bay Advisors LLC acquired a new position in shares of Texas Pacific Land during the 4th quarter worth about $31,000. Finally, Los Angeles Capital Management LLC acquired a new position in Texas Pacific Land during the fourth quarter worth approximately $31,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings raised Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Zacks Research downgraded shares of Texas Pacific Land from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, KeyCorp increased their price objective on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Stock Up 2.6%

Shares of TPL opened at $379.00 on Friday. The stock has a market cap of $26.14 billion, a PE ratio of 51.92 and a beta of 0.61. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20. The business has a 50-day simple moving average of $410.12 and a two-hundred day simple moving average of $394.59.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. Texas Pacific Land had a net margin of 60.03% and a return on equity of 35.52%. The business had revenue of $236.80 million during the quarter, compared to the consensus estimate of $233.00 million. On average, equities research analysts expect that Texas Pacific Land Corporation will post 8.88 EPS for the current year.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Texas Pacific Land’s payout ratio is 32.88%.

Insider Activity at Texas Pacific Land

In related news, CFO Chris Steddum sold 830 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $400.33, for a total value of $332,273.90. Following the completion of the sale, the chief financial officer directly owned 12,040 shares of the company’s stock, valued at $4,819,973.20. The trade was a 6.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Profile

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.